Xin Lang Cai Jing·2025-12-29 15:27Core Viewpoint - Starbucks is facing significant challenges due to intensified competition, the rise of remote work, and increasing costs, leading to a strategic shift in its store operations [1][2]. Group 1: Store Closures and Restructuring - As part of a $1 billion restructuring plan, Starbucks will close approximately 400 stores concentrated in major metropolitan areas across the U.S. [1][2] - In New York, Starbucks has closed 42 stores, which accounts for 12% of its total locations in the city [1][2]. - Other cities have also seen significant closures, including over 20 stores in Los Angeles, 15 in Chicago, 7 in San Francisco, 6 in Minneapolis, and 5 in Baltimore, with additional closures in other cities totaling several dozen [1][2]. Group 2: Future Plans and Brand Positioning - CEO Brian Niccol aims to reposition Starbucks to return to its "third space" concept, which serves as a social space between home and work [1][3]. - Starbucks has evaluated over 18,000 stores in the U.S. and Canada, closing underperforming locations that do not meet brand standards [3]. - The company plans to open new stores and renovate existing ones by 2026, focusing on design upgrades and enhanced customer experiences in major urban areas like New York and Los Angeles [3].